Germany government places Russia-owned oil company under federal management
The German Ministry for Economic Affairs and Climate Action Friday placed the German subsidiary of Russian-owned oil company Rosneft under federal fiduciary management. Rosneft holds roughly 12 percent of German oil refining capacity and controls three oil refineries in Germany of which the government will also partial control. The purpose of the imposition of federal [...]
In his epochal, controversial and highly polarizing essay, “The Social Responsibility of Business Is To Increase Its Profits,” published in the New York Times Magazine some 70 years ago, Nobel Prize-winning economist Milton Friedman argued against the social responsibility of businesses, and explicitly declared that “the business of business is business.” The shareholder value theory of the [...]
Netherlands Supreme Court overturns $50 billion ruling against Russia
The Supreme Court of the Netherlands overturned judgments of the The Hague Court of Appeal on Friday. The judgments — dated September 25 of 2018 and February 18 of 2020 — ordered Russia to pay $50 billion as part of an arbitration award to shareholders of Yukos. Yukos was a Russian company engaged in oil [...]
Europe rights court: Russia held unfair trial for oil tycoon and partner
The European Court of Human Rights (ECHR) in Strasbourg issued a lengthy ruling on Tuesday finding that Russia violated treaty provisions requiring fair trials for Mikhail Khodorkovsky and his business partner Platon Lebedev under the European Convention on Human Rights. The case concerned the well-known former oil executives who had butted heads with Russian President [...]
On Saturday the Security Service of Ukraine (SBU) accused a recent cyber attack on Russia and the Kremlin. The SBU stated that the hackers behind the most recent attack are the same as those who conducted...
The European Court of Justice (ECJ) on Tuesday ruled that the bloc's economic sanctions placed on Russia were valid. The measures include travel restrictions and a freeze on the assets of certain natural and legal persons. Certain...
Russia constitutional court: Russia need not pay reparations to Yukos shareholders
The Russian Constitutional Court ruled Thursday that Russia does not have to comply with a 2014 European Court of Human Rights (ECHR) order to pay 1.9 billion Euros to former...
A senior adviser to the European Court of Justice submitted an advisory opinion Tuesday finding the July 2014 EU economic sanctions against Russia legally valid. In response to a challenge by Russian oil and...
A Russian court on Wednesday reduced the sentence of the former business partner of jailed Russian oil executive Mikhail Khodorkovsky . Platon Lebedev has been incarcerated since 2003 for various...
Russia's Federal Arbitration Court in Tyumen on Friday ordered British Petroleum (BP) to pay 100 billion rubles (US$3.1 billion) in damages to TNK-BP, BP's 50-50 joint venture with Alfa Access Renova (AAR) , a consortium representing four Russian...
